in inflows when strong executive constraints are adopted in terms of the reduction in the volatility in productivity …Countries with strong executive constraints have lower growth volatility but similar average growth to those with weak … issue. It formulates an economic model of investment and uses data on the mean and variance of productivity growth to …

We propose a theory of low-frequency movements in unemployment based on asymmetric real wage rigidities. The theory … generates two main predictions: long-run unemployment increases with (i) a fall in long-run productivity growth and (ii) a rise … in the variance of productivity growth. Evidence based on U.S. time series and on an international panel strongly …

This Paper examines the relationship between foreign ownership and productivity, paying particular attention to two … productivity than foreign multinationals, but the difference is less stark in the service sector than in the production sector, and …

The paper provides a simple theory and empirical evidence on the asymmetric effect of credit markets on output decline …

This paper reexamines U.S. business cycle volatility since 1867. We employ dynamic factor analysis as an alternative to … reconstructed national accounts. We find a remarkable volatility increase across World War I, which is reversed after World War II …

We use portfolio theory to quantify the efficiency of state-level sectoral patterns of production in the United States … volatility of state output growth, rather than in its average. The realized industry shares of output also converge faster to …

inflation volatility, we unwind one of Sargent's simplifications and allow the monetary authority to react to some of the shocks … were also persuaded to stop using changes in inflation to offset shocks. Inflation and inflation volatility therefore …